OM300 Test 1

OM300 Test 1 - OM300 Test 1 Chapter 1 What is Operations...

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OM300 Test 1: Chapter 1 What is Operations Management? The business function responsible for planning, coordinating, and controlling the resources needed to produce a company’s products and services What is OM? It is a management function Organization’s core function Every organization has OM function Service or Manufacturing o For profit or Not for profit Typical Organization Chart What is OM’s Role? OM Transforms inputs to outputs o Inputs are resources such as People, Material, and Money o Outputs are goods and services OM’s Transformation Role
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OM’s Transformation Role? To add value o Increase product value at each stage o Value added is the net increase between output product value and input material value Provide an efficient transformation o Efficiency – perform activities well at lowest possible cost Why OM? • “In business today, the emphasis is not so much on what you make, but on how you do business. Dell makes computers just like every other PC manufacturer.” Quote: KT CEO on CNBC 4/99 • The resurgence of American business in the 1990’s capitalized on improved operations. Differences between Manufacturers and Service Organizations Services Manufacturers • Intangible product • Product cannot be inventoried • High customer contact • Short response time • Labor intensive • Tangible product • Product can be inventoried • Low customer contact
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OM300 Test 1 - OM300 Test 1 Chapter 1 What is Operations...

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